SSAB Calls for Global Unity in Steel Decarbonization at COP29

Urgency for Decarbonization and Global Cooperation
Swedish steelmaker SSAB is calling for a global approach to accelerate industrial decarbonization in the steel sector. Speaking at COP29 in Baku, Azerbaijan, SSAB’s CTO Martin Pei emphasized the need for nationally determined contributions (NDCs) and global carbon pricing mechanisms to drive faster and more effective transitions away from fossil fuels. He stressed that without a cost on emissions, the steel industry’s decarbonization will remain sluggish.

Global Standards and Trade for Clean Steel
SSAB is advocating for a unified global standard for near-zero-emission steel production. The company supports the Steel Standard Principles introduced at COP28 and urges policymakers to take the next step by establishing common emission measurement rules across the industry. SSAB is also pushing for trade rules to prioritize sustainability rather than imposing broad tariffs, with the EU Carbon Border Adjustment Mechanism serving as a model for incentivizing green steel through trade.

SSAB’s Path to Fossil-Free Steel
SSAB is already on its path to decarbonizing steel production. The company has introduced SSAB Zero, a near-zero-emission steel made from recycled scrap at its electric arc furnace (EAF) facility in Montpelier, Iowa, using fossil-free energy. The company is also shifting its Northern European production system to fully eliminate carbon emissions, using both recycled steel and virgin iron ore as raw materials.

HYBRIT: A New Era in Steelmaking
In collaboration with LKAB and Vattenfall, SSAB has developed HYBRIT, a hydrogen-based steelmaking technology that uses fossil-free electricity to produce hot briquetted iron (HBI) from iron ore pellets. To date, SSAB has produced 1,000 metric tons of steel using HYBRIT technology, marking a significant step toward a cleaner steel production future. SSAB hopes that higher national climate ambitions will pave the way for more investments and a competitive green steel sector.